Replies to post #19777 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

XLNX.. "Betting on a pullback"..a buy ONLY IF THE 10:00 high doesn't FIZZLE" from the newsletter

We were Very skeptical already picking up new position in KLAC 55's yesterday (while folks were 'buying the short cover rally'). BY 10:00 the rally was being shorted, (KLAC first short of the session, followed by KLIC, MCHP and others) Even NEM was on our short list. by 11:00 more and more techs and builders were joining our short fest. We do notice that some traders seem very happy to buy the highs of the morning only to repent for the rest of the session.



10 intraday updates utilizing CLeAR intrdaday charts because we did see that TXN did nothing at all and the FOMC was a foregone conclusion. We gave it a chance. Had some longs early on in GS, SNPS and IBM, but we were short 6 to 3.. with much longer held shorts - Long Term Daytrade short. I'm still bearish and now we will post Phase IV of our SOX, COMPX and INDU charts. And even if we were somewhat skeptical (using XLNX as the 'dummy' play).. the only quick exit this morning were some SNDK call options (65's)